U.S major indices set to move higher for the fourth day

The major indices futures are pointing upward before the market open. Traders and investors seem optimistic, shrugging the early week fear on economic recovery. The market situation is expected to continue to be choppy as traders waiting for next week’s U.S interest rate decision.

As the market continues moving upward, there is no major reason to become bearish yet. However, traders will monitor closely the rising covid cases across the world, inflation situation, and the Fed policies to cope with the pandemic.

Asian & European Stock market

The Asian stock market is mixed. Japan Stock market closed, China stock market down 24.34 points (-0.68%) to 3,550.40 and Australia ASX 200 up 8.0 points (+0.11%) to 7,394.40. The European stock market is mostly higher. DAX Germany up 0.95%, UK FTSE up 0.82%, Euro STOXX 600 up 0.93%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is set to extend its bullish movement today as the index futures higher more than 150 points. If a higher high is printed or a new record high printed then there is no change to the bullish outlook of the index yet. On the other hand, if lower high and lower low is printed on the chart then traders will prepare for a major bearish reversal.

Kimberley Clark Corp (KMB)

KMB share prices broke above the daily SMA 200 and currently undergo a bearish correction. The share prices will attempt to bounce from the averages and continue its bullish movement. On the upside, traders could see the white horizontal line as the target.